DT Max - What's new for T1/T3/T5013 version 18.30?

What's new for T1/T3/T5013 version 18.30?

DT Max version 18.30 is a CD release that features the T1/TP-1 program for the tax years 2005 to 2014 as well as the 2015 planner, in addition to fully supporting T1/TP1 EFILE. Version 18.30 also features the T3/TP-646 program for tax years ending from 2005 to 2015 inclusively (keeping in mind that the 2015 tax returns for trusts prepared with this version will be using the 2014 tax forms). It also features the fully functional T5013 program for paper and electronic filing of the Partnership Information Return (T5013 forms) for fiscal periods ending from 2013 to 2015.

Please note that all program versions are first made available on the Internet.

In this version...

DT Max T1

Version highlights
Notes
1. Deceased or bankrupt taxpayers
2. Printing prescribed forms for 2015 returns
  1. Quebec
  2. Federal
New diagnostics
1. Notes and diagnostics
2. Error prevention reports
New keywords
New options

DT Max T3

Version highlights - Enhancements
Revised forms
Warning: verifying carryforward
Deleted keyword
New options

DT Max T5013

Version highlights
1. Toggle between equivalent federal/Quebec forms
2. QuickStart tutorial
New forms and related keywords
New keywords
New options

DT Max T1

1. Version highlights

Implementation of announced tax changes

Since our last release, the following budgets were announced:

Alberta - March 26, 2015
British Columbia - February 17, 2015
Federal - April 21, 2015
Manitoba - April 30, 2015
New Brunswick - March 31, 2015
Newfoundland and Labrador - April 30, 2015
Northwest Territories - February 5, 2015
Nova Scotia - April 9, 2015
Nunavut - February 25, 2015
Ontario - April 23, 2015
Prince Edward Island - Not yet tabled for 2015
Quebec - March 26, 2015
Saskatchewan - March 18, 2015
Yukon - April 2, 2015

At the time of writing, the majority of the above-mentioned budget speeches were tabled in their respective legislatures.

The 2015 DT Max tax planner takes into consideration the basic tax changes announced in each budget, allowing you for more effective planning opportunities, as well as the ability to perform cost projection calculations.

Please refer to these topics from our Knowledge Base for a detailed review of the tax changes implemented:
2015 Planner Standard Caveat

We would like to remind our users that the planner is equipped with the most recent information available at the time of our production process.

This information includes the 2015 tax rates and the 2015 non-refundable tax credits and tax brackets indexed to reflect the 2015 amounts.

In some cases, instead of an indexation factor, we have implemented the amounts prescribed by the taxing jurisdiction depending on the availability of the information.

However, please note that due to various factors beyond our control, certain new tax measures are not included in our planner version. Should you require a precise projection (rather than an estimate) of your client's 2015 tax liability, we strongly suggest that you review our planner's results with care.
Capital gains deduction

Please take note of the following changes announced in the 2015 federal and Quebec budgets in respect of the Lifetime Capital Gains Exemption.

Federal:

In regard to qualified farm property and qualified fishing property, the limit has been set to $813,600 for dispositions made prior to April 21st, 2015, and to $1,000,000 for dispositions made after April 20th, 2015. However, for qualified small business corporation shares, the maximum deduction amount is $813,600 for the whole year of 2015.

Quebec:

The maximum Lifetime Capital Gains Exemption amount pertaining to qualified farm property and qualified fishing property is $1,000,000 for the whole year of 2015, whereas it has been set at $813,600 for qualified small business corporation shares for the whole year of 2015.

Following these changes, Forms T657 (Calculation of Capital Gains Deduction for 2015), T2017 (Summary of Reserves on Dispositions of Capital Property), TP-726.7 (Capital gains deduction on qualified property) as well as Schedule G (Capital Gains and Losses) have been modified accordingly in order to reflect the changes announced in the budgets. An adjustment may be required once the official forms are made available. Therefore, some calculations will only be possible at that moment, especially in the case of dispositions made within the context of a partnership. Moreover, the calculation of amounts carried forward, whether for the reserves or for the Lifetime Exemption, will also be possible only when the final versions of the above-mentioned forms are released, to ensure the accuracy of the calculations.

It should also be noted that up until then, the maximum capital gains deduction amount claimed in Quebec was always limited by the federal amount. In addition, following the latest changes, a difference remains between the federal and Quebec returns regarding qualified farm property and qualified fishing property, for the period of January 1st, 2015, to April 20th, 2015 inclusively. The appropriate processing of this specific case will only be possible when the final versions of the forms become available.

However, you can always override the amount on line 292 (Capital gains deduction) of the TP-1 Quebec tax return by using the keyword Override .
Quebec Additional Subsidized Childcare Contribution

Since April 22, 2015, subsidized childcare fees include a basic contribution as well as an additional contribution, which will be paid to Revenu Québec when you file your 2015 income tax return. You will continue to pay the basic contribution to your childcare service provider. The additional subsidized childcare contribution amount will be adjusted to your family income and will only be payable for a maximum of two children. For planning purposes, a series of keywords was integrated to facilitate the calculation of the additional subsidized childcare contribution amount. Since certain pieces of information are required to calculate the amount of this additional contribution, you can include them in the data entry screen as follows:
- The family head's net income for 2014 as well as the spouse's net income for 2014, if applicable, using the keywords PRIOR-YEAR-NI and SP-PRIOR-YEAR-NI respectively.
- The predicted number of days in subsidized childcare, for the period of April 22 to December 31, 2015, using the keyword FIRSTCHILD-DAYS , as well as the keyword SECONDCHILD-DAYS in the case of a second child.
- Please note that this information must be entered in the family head's return or in the spouse's return.
Since the TP-1 return for tax year 2015 is not yet available, the amount calculated by DT Max for the additional subsidized childcare contribution will be temporarily carried over to line 443 (Special taxes) of the TP-1 return under Code 06 and on line 214 of the T1 jacket. The appropriate processing will only be possible when the final version of the TP-1 return becomes available.

2. Notes

Deceased or bankrupt taxpayers

Although the tax planner might not be appropriate to prepare 2015 income tax returns for living taxpayers, it may be used legally to prepare returns on behalf of deceased or bankrupt taxpayers. Pursuant to DT Max's calculations, tax plans will appear as preliminary updates of tax forms for the new tax year. However, the returns of deceased or bankrupt taxpayers will be displayed on approved forms from the prior tax year, in conformity with the government's instructions.

For more details, please consult the following "in-house" documents from the Knowledge Base: "Preparing the return of a deceased taxpayer" and "Preparing a bankruptcy return".
Printing prescribed forms for 2015 returns

Year after year, there is a certain level of confusion among tax preparers in regard to the forms' versions. Administrative policies differ from one level of government to the other as for the validity of the prescribed forms. DT Max was programmed in accordance to these administrative policies.
1. Quebec
  
  When a 2015 tax return is produced before the official annual forms are made available, depending on whether the Quebec form is prescribed or not, the year that is printed may be 2014 or 2015. Even though the system's calculation engine is calibrated for tax year 2015, only a complete paper certification process (performed in the fall) allows the preparers to use the 2015 prescribed forms.
  
  In addition, the authorization number (RQ14-TP74) displayed on all prescribed forms, is not and should not be printed on these types of returns.
2. Federal
  
  On all federal forms, the year is changed to 2015.

3. New diagnostics

Notes and diagnostics

BC 428 - Children's fitness equipment tax credit

The taxpayer is claiming the BC children's fitness tax credit in respect of registration fees paid for a child's participation in an eligible program of physical activity.

A parent can now claim an additional credit in respect of fitness equipment purchased for the child. Use the keyword FITNESS-EQUIPMENT to claim the new credit. The new credit is calculated as 50 per cent of the existing BC children's fitness credit amount claimed.
Error prevention reports

423 - Family tax cut

The DT Max optimization has determined that the taxpayer is eligible for the family tax cut on the federal tax return. DT Max calculated the amount of the family tax cut and completed Schedule 1A. The taxpayer has a minimum tax amount payable. You might consider claiming the family tax cut in the spouse's return.

If you want to change the program's election, use the keyword Optimize with the option "T1 - Schedule 1A - Family tax cut".

423 - Family tax cut

The DT Max optimization has determined that the taxpayer is eligible for the family tax cut on the federal tax return.

You used the keyword Transfer-OV with the option "NOT a Dependent child" in the dependent's file. Please verify that the child who is under 18 years of age at the end of the year meets the condition "ordinarily lives throughout the year" with the taxpayer. Otherwise, use the keyword Optimize with the option "T1 - Schedule 1A - Family tax cut" and select "Do not claim".

4. New keywords

In the keyword group T-Slip , pertaining to the Quebec RL-10 slip (Tax Credit for a Labour-Sponsored Fund):
1. AMOUNT-PAID-1 : Box G1 - Amounts paid before June 1st, 2015, to purchase shares of the fund (RL-10 Box G1)
  
  Use this keyword to enter the amount from Box G1 of the RL-10 slip.
2. TAXCREDIT-1 : Box H1 - Tax credit equal to 25% of the amount in box G1 [Fed. L.414] [Que. L.424] (RL-10 Box H1)
  
  Use this keyword to enter the amount from Box H1 of the RL-10 slip.
3. REFUNDSHARE1 : RL-10 Box I1 - Amount received from the fund further to the redemption of shares
  
  Use this keyword to enter the amount from Box I1 of the RL-10 slip.
4. CANCELTAXCREDIT1 : Box J1 - Cancelled tax credit (25% of all or part of the amount in box I1) (RL-10 Box J1)
  
  Use this keyword to enter the amount for the cancelled tax credit from Box J1 of the RL-10 slip, which represents 25% of the amount received from the fund further to the redemption of shares.
In the keyword group ProvCredit , pertaining to the British Columbia form BC428 (British Columbia Tax):
1. EDUCATIONCOACHING : Eligible for the education coaching tax credit? (Line 5845, BC428)
  
  Use the keyword EDUCATIONCOACHING to indicate whether or not the taxpayer is eligible for the education coaching tax credit. The tax credit is available to teachers and teaching assistants who carry out at least ten hours of extracurricular coaching activity in the tax year. The credit amount is $500 per eligible taxpayer.
2. FITNESS-EQUIPMENT : Eligible for the children's non-refundable fitness equipment tax credit (Line 5842, BC428)
  
  Use the keyword FITNESS-EQUIPMENT if the taxpayer is eligible for the non-refundable tax credit for children's fitness equipment. This credit will become effective as of tax year 2015. Parents can already claim the BC children's fitness credit in respect of registration fees paid for a child's participation in an eligible program of physical activity. With this budget, a parent can now claim an additional credit in respect of fitness equipment purchased for the child. The new credit is calculated as 50 per cent of the existing BC children's fitness credit amount claimed. Parents are not required to keep receipts for equipment purchases.
In the new keyword group CHILDCARE-ADDCONTR , pertaining to the Quebec additional subsidized childcare contribution:
1. CHILDCARE-ADDCONTR : Choose the family situation for the additional contribution for subsidized childcare
  
  Choose the family situation for the additional contribution for subsidized childcare.
  
  Changes in childcare rates according to net family income will come into force on April 22, 2015. The $7.30 per day rate for families with incomes under $50,000 will remain unchanged. The rate will rise to $8 per day on incomes of $50,000 or more.
  
  On incomes of $75,000 or more, the daily rate will gradually increase to reach $20.00 per day on incomes of roughly $155,000.
  
  The basic rate of $7.30 will be payable directly to the subsidized childcare provider and the additional contribution according to family income will be payable on the income tax return.
  
  The taxpayer will claim in his federal income tax return the sum of the contributions paid to the daycare provider and the additional contribution for subsidized childcare that he will have to pay on the Quebec income tax return.
2. PRIOR-YEAR-NI : Net income for 2014 (Line 275 of the TP1 2014)
3. SP-PRIOR-YEAR-NI : Spouse's income for 2014 (Line 275 of the TP1 2014)
4. FIRSTCHILD-DAYS : Number of days in subsidized childcare after April 21, 2015
5. SECONDCHILD-DAYS : Number of days in subsidized childcare after April 21, 2015

5. New options

For the keyword Optimize , pertaining to the British Columbia form BC428 :

BC428 - Children's fitness amount (P5838)

This option allows you to specify which parent is claiming the above-mentioned credit amount.
For the keyword FSTQ-CF , in the keyword group T-Slip , pertaining to the Quebec RL-10 slip (Tax Credit for a Labour-Sponsored Fund):

Fondaction - cost of shares acquired (20%)

This option pertains to the shares acquired from the FTQ or FONDACTION in prior years for which the credit has not been claimed yet.
For the keyword Cap-Reserves , pertaining to federal form T2017 (Summary of Reserves on Dispositions of Capital Property):

Farm (QFP) & fishing after Dec. 31, 2013
Small business corporation (QSBCS) after Dec. 31, 2013

These options allow you to indicate the amount of reserves applied against capital gains on the disposition of eligible shares during tax year 2014.

DT Max T3

1. Version highlights - Enhancements

Toggle between equivalent federal/provincial forms

When viewing the tax return, it is now possible to jump to the equivalent form for the other jurisdiction (i.e. federal or provincial) for many pages. To do this, you may either use the new icon on the toolbar, or the keyboard shortcut (Ctrl+F4). If a given form has many equivalent forms or pages in the other jurisdiction, you will be presented with a list to choose from.

Note that the toolbar icon is highlighted and the keyboard shortcut is available only when an equivalent page exists for the other jurisdiction.
Printing of client labels

DT Max T3 has added the feature of printing client labels. This popular feature provides a quick and easy way to print specific or customizable labels. For your convenience, a list of possible printing options has been compiled and added to the "Information to print on label" section, that you will find under the Text to print tab of the window generated when you select File/Print/Client labels.
Tax changes affecting the following forms
1. T3NB (New Brunswick Tax) - Effective January 1, 2015
  
  The 2015-2016 New Brunswick budget proposes two additional tax brackets: a fifth bracket for income between $150,000 and $250,000 at a tax rate of 21% and a sixth bracket for income over $250,000 at a rate of 25.75%.
  
  The tax credit on dividends received from small business on or after January 1, 2015, is decreased from 5.3% to 4%.
2. T3NL (Newfoundland and Labrador Tax) - Effective July 1, 2015
  
  The 2015-2016 Newfoundland and Labrador budget introduces two new tax brackets: a fourth rate of 14.3% for taxable income between $125,000 and $175,000 and a fifth rate of 15.3% for taxable income over $175,000. This translates into a fourth rate of 13.8% and a fifth rate of 14.3%, once these rates are prorated for the full 2015 tax year.
3. T3YT (Yukon Tax) - Effective January 1, 2015
  
  The Yukon budget announced that there would be new tax rates for the four existing tax brackets, i.e. 6.4%, 9.0%, 10.9%, 12.8% respectively, and that there would be a new fifth tax bracket of 15% on taxable income greater than $500,000. The 5% surtax will be eliminated on the taxes payable over $6,000.
4. T3NS (Nova Scotia Tax) - Effective January 1, 2015
  
  The dividend tax credit on non-eligible dividends for 2015 has decreased from 5.87% to 3.5%.
The tax brackets and rates (2015) document has been updated in the Knowledge Base to reflect the new provincial tax rates.
Federal Trust Income Tax Return
1. Line 19: Death Benefit - Other than CPP or QPP
  
  The keyword subgroup Eligible-Deduct was incorrectly reducing the amount from all amounts coming from the keyword Oth-Death-Benefit , regardless of whether or not they were entered in the same group. This has been corrected so that the amount from the keyword Eligible-Deduct will only reduce the amount from the keyword Oth-Death-Benefit within the same group.
2. Income earned by an RRSP or RRIF after the death
  
  New options have been added to the keyword RRSP-RRIF in the IncomeSource group. These options offer the opportunity to the user to enter the amount as Other Income for both the Federal and the Quebec Trust Tax Return or to simply enter it on the Quebec Trust Return, line 61. In previous versions, the amount from the keyword RRSP-RRIF was entered only in the TP-646 return. See our New options section for details.
Schedule 5 - Spousal or Common-Law Partner Trust's Capital Gains Deduction in Year of Beneficiary's Death

Modifications have been made in Part 1a to include any 2015 capital gains for qualified farm or fishing property, or qualified small business corporation shares. Part 1a will now include both 2014 and 2015 capital gains.

The 2013 budget increased the Lifetime Capital Gains Exemption (LCGE) from $750,000 to $800,000 for 2014 and indexed the new limit to inflation, bringing it to $813,600 for 2015. However, the 2015 Federal Budget has proposed to increase LCGE to $1 million for the disposition of qualified farm or fishing property that occurs on or after the Budget Day, April 21, 2015.

The Quebec Economic Update of December 2, 2014, has also introduced an increase in the capital gains exemption to $1 million for the disposition of qualified farm or fishing property starting in 2015.

As the official government forms are not available at this date and due to the extensive modifications required to adjust the maximum capital gains deduction based on both the Federal and Quebec budgets, DT Max T3 will continue to use the maximum deduction of $800,000 until the forms become available.

However, anyone wishing to apply the new rates can do so by entering the desired amount with the option "Unused capital gains deduction for the year - OV" in the keyword EXEMPTION.CH . EXEMPTION.CH is in the Beneficiary keyword group under the keyword FORM-T657 .
New Tax Rules for Testamentary and Grandfathered Inter Vivos Trusts

Testamentary and grandfathered inter vivos trusts qualified for certain special tax rules, which included graduated tax rates. For the 2016 and subsequent tax years, eligibility for several of these rules will be restricted to a "graduated rate estate". Bill C-43 has added the definition of graduated rate estate to subsec. 248(1) of the ITA.

Starting January 1, 2016, testamentary trusts that do not qualify as graduated rate estates, and grandfathered inter vivos trusts will be taxable at a flat rate equal to the top federal personal tax rate of 29%. In addition, they will be required to have a calendar year end. Therefore, testamentary trusts that are not graduated rate estates on January 1, 2016 will be obliged to have a deemed taxation year end of December 31, 2015.

In order to prepare for these new tax changes, a client list filter could be set up by the tax preparer. To create the filter, go to Tools/Filter the client list/Spare filter/Edit filter. Begin by giving the filter a name, then enter dates in the section reserved for "Date trust created" and finally enter the following equation, %15=1, in the section "Calculated tax data". This equation will extract all the testamentary trust from the client list. An example of dates that should be entered is: "Between" 01-01-1950 "and" 30-12-2012. This would then further identify all the testamentary trusts created more than 36 months ago.

2. Revised forms

Federal:

Schedule 11 - Federal income tax
T3BC - British Columbia Tax
T3NB - New Brunswick Tax
T3NL - Newfoundland and Labrador Tax
T3NS - Nova Scotia Tax
T3NT - Northwest Territories Tax
T3NU - Nunavut Tax
T3ON - Ontario Tax
T3SK - Saskatchewan Tax
T3SK(CG) - Saskatchewan Farm and Small Business Capital Gains Tax Credit (Trusts)
T3YT - Yukon Tax
T3MJ - T3 Provincial and Territorial Taxes for 2015 - Multiple jurisdictions

3. Warning: verifying carryforward

As always, we recommend that you verify your carryforwards carefully before processing your client files.

4. Deleted keyword

RELATEDEMPLOYER: Whether the apprentice is also employed by another employer related to you

This keyword was in the ITC group pertaining to form T2038. The purpose of this keyword was to tick a box in Part B for the Apprenticeship Job Creation Tax Credit. However, the box was removed in 2014 and therefore the keyword is no longer required.

5. New option

For the keyword Trust-Info , pertaining to question 17 on the Quebec Trust Return TP-646:

Non-arm's length inter vivos transaction (Qc)

The original option, "Non-arm's length debt incurred", maintains its function to tick both Federal T3 Question 6 and Quebec TP-646 Question 17 (if applicable). The new option adds flexibility to tick only the box on the Quebec tax return.
For the keyword Other-credits, pertaining to line 156 on the Quebec Trust Return TP-646:

Overpayment of QPP or CPP contributions
Overpayment of QPIP contributions

DT Max T5013

1. Version highlights

Toggle between equivalent federal/Quebec forms

When viewing the tax return, it is now possible to jump to the equivalent form for the other jurisdiction (i.e. federal or Quebec) for many pages. To do this, you may either use the new icon on the toolbar, or the keyboard shortcut (Ctrl+F4). If a given form has many equivalent forms or pages in the other jurisdiction, you will be presented with a list to choose from.

Note that the toolbar icon is highlighted and the keyboard shortcut available, only when an equivalent page exists for the other jurisdiction.
QuickStart tutorial

Accessible from the Help menu, this short tutorial will help new users get started with DT Max T5013.

2. New forms and related keywords

In-house form:

Breakdown of Business Carried On in Quebec and Elsewhere (related keyword: Jurisdiction )

Federal:

T1134 – Information Return Relating to Controlled and Not-Controlled Foreign Affiliates (related keyword: NonRes-Trans )
T1142 - Information Return in Respect of Distributions from and Indebtedness to a Non- Resident Trust (related keyword: NonRes-Trans)

3. New keywords

In the Foreign-Info keyword group, pertaining to federal form T1134 (Information Return Relating to Controlled and Not-Controlled Foreign Affiliates):
1. Elect-Currency: State the currency code of the functional currency
  
  Use the keyword Elect-Currency to state the alphabetic currency code of the functional currency, if an election has been made to use functional currency.
  
  Monetary values should be reported in Canadian dollars except where an election has been made under paragraph 261(3)(b) of the Act to use a functional currency.
2. Short-Year : Whether taxation year includes 2 or more short taxation years
  
  Use the keyword Short-Year to indicate whether the taxation year includes 2 or more short taxation years.
  
  For short taxation years (e.g. where there is a deemed year-end due to a change in control), reporting for more than one fiscal period (not exceeding the normal 12-month or 53-week period) is sufficient if the information that would otherwise be reported for the short taxation year is included on the T1134 returns that are filed.
3. OTHER-BUSNUMBER : Business number for other reporting purposes
  
  Use the keyword OTHER-BUSNUMBER if the foreign affiliate has a business number for other reporting purposes (for example: GST/HST remittances, Payroll, etc.)
4. CHART-FILER : Filer of the organizational chart for the related group
  
  Use the keyword CHART-FILER to identify the reporting taxpayer filing the organizational chart for the related group. If none is entered, DT Max will use the name of the filing corporation as the filer of the organizational chart.
5. FILER-ID: CRA registered identification number (SIN, BN, other)
  
  Use the keyword FILER-ID to enter the CRA registered identification number (SIN, BN, other) of the taxpayer reporting Section 3 if it is filed by a taxpayer or partnership other than the reporting entity.
6. Org-Structure: Organization structure
  
  Use the keyword Org-Structure if you are reporting on one or more "Controlled" Foreign Affiliates as defined in subsection 98(1) of the Act. You only have to produce the information once for a group of persons that are related to each other.
7. Corp-Name.t1134: Name of related corporation
  
  Use the keyword Corp-Name.t1134 to list the name of the corporation that is not dealing at arm's length with the reporting entity.
  
  This information will be entered in Table A of Part I, section 3 of form T1134.
8. Corp-Res-Code : Country code of residence of corporation
  
  Use the keyword Corp-Res-Code to enter the country code of residence of the corporation.
  
  This information will be entered in Table D of Part I, section 3 of form T1134.
9. Foreign-Aff-Name : Name of foreign affiliate
  
  Use the keyword Foreign-Aff-Name to enter the name of the foreign affiliate.
  
  This information will be entered in either Table A or D of Part I, section 3 of form T1134.
10. For-Aff-Code : Country code of residence of foreign affiliate
  
  Use the keyword For-Aff-Code to enter the country code of the residence of the foreign affiliate.
  
  This information will be entered in Table A of Part I, section 3 of form T1134.
11. Equity%.t1134 : Equity percentage in foreign affiliate
  
  Use the keyword Equity%.t1134 to enter the equity percentage in the foreign affiliate
  
  This information will be entered either in Table A or B, whichever is applicable, of Part I, section 3 of form T1134.
12. Direct-Equity% : Direct equity percentage in the foreign affiliate
  
  Use the keyword Direct-Equity% to enter the direct equity percentage in the foreign affiliate
  
  This information will be entered either in Table A or B, whichever is applicable, of Part I, section 3 of form T1134.
13. Oth-For-Aff-Name : Name of other foreign affiliate
  
  Use the keyword Oth-For-Aff-Name to enter the name of the other foreign affiliate.
  
  This information will be entered in Table B of Part I, section 3 of form T1134.
14. Oth-For-Aff-Code : Country code of residence of other foreign affiliate
  
  Use the keyword Oth-For-Aff-Code to enter the country code of the residence of the other foreign affiliate.
  
  This information will be entered in Table B of Part I, section 3 of form T1134.
15. Partnership-Name : Name of partnership
  
  Use the keyword Partnership-Name to list the name of each partnership of which the foreign affiliate is a member.
  
  This information will be entered in Table D of Part I, section 3 of form T1134.
16. Part-Address-Ln1 : Line 1 of partnership address
  
  Use the keyword Part-Address-Ln1 to enter the address of the partnership.
  
  This information will be entered in Table D of Part I, section 3 of form T1134.
17. Part-CountryCode : Country code of country of location of partnership
  
  Use the keyword Part-CountryCode to enter the country code of the business location of the partnership of which a foreign affiliate is a member.
  
  This information will be entered in Table D of Part I, section 3 of form T1134.
18. For-Aff-Interest% : Foreign affiliate's interest percentage in the partnership
  
  Use the keyword For-Aff-Interest% to enter the foreign affiliate's interest percentage in the partnership.
  
  This information will be entered in Table D of Part I, section 3 of form T1134.
19. Affiliate-Id : Name of foreign affiliate
  
  Use the keyword Affiliate-Id to enter the name of the foreign affiliate. A separate form will be produced for each foreign affiliate identified with this keyword.
20. Address.fa : Address of head office
  
  Use the keyword Address.fa to enter the head office address of the foreign affiliate.
21. CAPITALSTOCK : Type of capital stock of foreign affiliate owned
  
  Use the keyword CAPITALSTOCK to indicate whether the shares of the affiliate's capital stock are owned by the reporting partnership or by a controlled foreign affiliate of the reporting partnership, or other person related to the corporation.
22. Equity%-Beg : Equity % in foreign affiliate - beginning of year
  
  Use the keyword Equity%-Beg to indicate what the reporting partnership's percentage in the foreign affiliate was at the beginning of the reporting partnership's taxation year.
23. Equity%-End : Equity % in foreign affiliate - end of year
  
  Use the keyword Equity%-End to indicate what the reporting partnership's percentage in the foreign affiliate was at the end of the reporting partnership's taxation year.
24. QUAL-INT-BEG : Existence of qualifying interest - beginning of year
  
  Use the keyword QUAL-INT-BEG (ignoring paragraph 95(2.2)(a)) to indicate whether or not the reporting corporation had a qualifying interest at the beginning of the year in the foreign affiliate.
25. QUAL-INT-END : Existence of qualifying interest - end of year
  
  Use the keyword QUAL-INT-END (ignoring paragraph 95(2.2)(a)) to indicate whether or not the reporting partnership had a qualifying interest at the end of the year in the foreign affiliate.
26. INDEBTED : indebtedness of partnership or foreign affiliate
  
  Use the keyword INDEBTED to indicate whether the foreign affiliate was indebted to the partnership or the partnership was indebted to the foreign affiliate at any time in the fiscal period.
27. Gross-Debt : Gross amount of debt
  
  Use the keyword Gross-Debt to specify the gross amount of debt (in Canadian dollars) owed to the partnership by the foreign affiliate, or owed to the foreign affiliate by the partnership at the end of the fiscal period.
28. For-Aff-Begin : Taxation year start of foreign affiliate
  
  Use the keyword For-Aff-Begin to specify the taxation year start of the foreign affiliate for which the information on the return is reported.
29. For-Aff-End : Taxation year-end of foreign affiliate
  
  Use the keyword For-Aff-End to specify the taxation year-end of the foreign affiliate for which the information on the return is reported.
30. FS-Info : Financial information available attached
  
  Use the keyword FS-Info to indicate whether or not the partnership has attached unconsolidated financial statements or, if unavailable, the financial information available.
31. FS-Item : Financial statement item
  
  Use the keyword FS-Item to enter the financial statement item.
32. FS-Amount : Amount from the financial statement
  
  Use the keyword FS-Amount to enter the amounts from the unconsolidated financial statements (including the notes to the financial statements) of the foreign affiliate.
  
  The total assets reported should be net of depreciation or amortization. The net income should be accounting net income. Tax paid or payable should be the actual tax paid or payable and not deferred tax. Do not include withholding tax.
  
  This information will be entered in Part II, Section 3 - Financial information of the foreign affiliate, of form T1134.
33. FS-CURR : Currency code if financial information reported in foreign currency
  
  If the financial information is reported in a foreign currency, use the keyword FS-CURR to provide the appropriate currency code.
34. FS-COUNTRY : Countries to which income tax was paid or payable
  
  Use the keyword FS-COUNTRY to indicate the countries to which income tax was paid or payable.
35. Surplus-Div : Receipt of dividend
  
  Use the keyword Surplus-Div to indicate whether or not, at any time in the taxation year, the reporting partnership received a dividend on a share of the capital stock of the foreign affiliate in respect of which an amount is deductible from the income of the reporting corporation under subsection 91(5) or section 113 of the ITA.
36. SURPLUS-ACCT : Type of surplus account
  
  Use the keyword SURPLUS-ACCT to indicate which surplus account the deductible dividend (under ITA subsection 91(5) or section 113) was paid from.
37. Surplus-Calc : Detailed calculations and descriptions
  
  If the option "YES" was selected in the keyword Surplus-Div, use the keyword Surplus-Calc to provide a detailed and descriptive calculation of the exempt surplus, exempt deficit, taxable surplus, taxable deficit, hybrid surplus, hybrid deficit, and underlying foreign tax of the foreign affiliate at the end of the affiliate's last taxation year ending in the reporting entity's taxation year in support of the dividend deduction claimed.
  
  Documentation supporting these calculations need not be filed but should be retained as it may be requested for examination.
38. Disp-Elect: election pursuant to ITA subsection 93(1)
  
  Use the keyword Disp-Elect to indicate whether or not an election under ITA subsection 93(1) was made or whether such an election will be made with respect to the disposition of shares of the foreign affiliate in the year.
39. Elected-Amt : Amount elected on under ITA subsection 93(1)
  
  Use the keyword Elected-Amt to provide the actual or estimated amount elected on under ITA subsection 93(1).
40. Corp-Change : Affiliate involved in corporate change
  
  Use the keyword Corp-Change to indicate whether or not, at any time in the taxation year of the reporting partnership, the reporting partnership or any foreign affiliate of the reporting partnership was involved in a corporate or other organization, reorganization, amalgamation, merger, winding-up, liquidation, dissolution, division, or an issuance, redemption, or cancellation of share capital or a similar transaction in a manner that effected the exempt surplus, exempt deficit, taxable deficit, or underlying foreign tax of the affiliate in respect of the reporting corporation.
41. Trans-Detail : Description of each transaction or event
  
  If "YES" is indicated for the Corp-Change or Acq-Disp-Sh keywords, use the keyword Trans-Detail to provide a detailed description of each transaction or event.
42. Acq-Disp-Sh : Acquisition or disposal of capital stock
  
  Use the keyword Acq-Disp-Sh to indicate whether or not at any time in the taxation year of the reporting partnership, the reporting partnership or another affiliate of the reporting partnership acquired or disposed of a share of the capital stock of the foreign affiliate.
43. BUS-CODE : business (NAICS) code
  
  Use the keyword BUS-CODE to enter the business (NAICS) code for the number of full-time employees or employee equivalents.
44. Bus-Employ : Full-time employees or equivalents, per SIC code
  
  Use the keyword Bus-Employ to indicate the number of full-time employees or employee equivalents for each business identified (per NAICS code chosen).
45. Rev-Source : Source of gross revenue of foreign affiliate
  
  Use the keyword Rev-Source to indicate the source of the foreign affiliate's gross revenue.
46. Total-Rev : Gross revenue of foreign affiliate from business or property
  
  Use the keyword Total-Rev to indicate the total amount of the foreign affiliate's gross revenue from a business or property.
47. Currency-Code.gr : Currency code of foreign affiliate's gross revenue
  
  Use the keyword Currency-Code.gr to enter the currency code of the foreign affiliate's gross revenue.
48. FAPI : FAPI earned by foreign affiliate
  
  Use the keyword FAPI to indicate whether or not the foreign affiliate earned FAPI in any taxation year that ended in the reporting partnership's taxation year.
49. Partic-% : Participating percentage
  
  Use the keyword Partic-% to provide the reporting partnership's total participating percentage in respect of the foreign affiliate's FAPI for the year.
50. S95FAPI : FAPI from property
  
  Use the keyword S95FAPI to enter the amount of FAPI earned by the foreign affiliate in the year that is income from property under section 95(1) of the ITA.
51. S952A1FAPI : FAPI from sale of property
  
  Use the keyword S952A1FAPI to enter the amount of FAPI earned by the foreign affiliate in the year that resulted from the sale of property under paragraph 95(2)(a.1) of the ITA.
52. S952A2FAPI: FAPI from insurance or reinsurance
  
  Use the keyword S952A2FAPI to enter the amount of FAPI earned by the foreign affiliate in the year that resulted from the insurance or reinsurance of risks under paragraph 95(2)(a.2) of the ITA.
53. S952A3FAPI: FAPI from indebtedness and lease obligations
  
  Use the keyword S952A3FAPI to enter the amount of FAPI earned by the foreign affiliate in the year that resulted from indebtedness and lease obligations under paragraph 95(2)(a.3) of the ITA.
54. S952A4FAPI : FAPI from indebtedness and lease obligations
  
  Use the keyword S952A4FAPI to enter the amount of FAPI earned by the foreign affiliate in the year that resulted from indebtedness and lease obligations under paragraph 95(2)(a.4) of the ITA.
55. S952BFAPI: FAPI from the provision of services
  
  Use the keyword S952BFAPI to enter the amount of FAPI earned by the foreign affiliate in the year that resulted from the provision of services under paragraph 95(2)(b) of the ITA.
56. Disp-FAPI : FAPI from the disposition of capital property
  
  Use the keyword Disp-FAPI to enter the amount of FAPI earned by the foreign affiliate in the year that resulted from the disposition of capital property.
57. S951CFAPI : FAPI under the description of C
  
  Use the keyword S951CFAPI to enter the amount of FAPI earned by the foreign affiliate in the year that resulted under the description of C in the definition of FAPI in subsection 95(1) of the ITA.
58. Excl-Prop : Disposition of excluded capital property
  
  Use the keyword Excl-Prop to indicate whether or not the foreign affiliate disposed of capital property that was excluded property.
59. NonExcl-Prop : Disposition of non-excluded capital property
  
  Use the keyword NonExcl-Prop to indicate whether or not the foreign affiliate disposed of capital property that was not excluded property.
60. Inc-Incl-ABI : Reason for inclusion in income from active business
  
  Use the keyword Inc-Incl-ABI to indicate whether or not income of the foreign affiliate that would otherwise have been included in its income from property or a business was included in its income from an active business.
61. Info-Request : Information requested being unavailable
  
  Use the keyword Info-Request to indicate whether or not any information requested in this return is unavailable.
62. Spec-Reason : Information that is not available and reason
  
  Use the keyword Spec-Reason to specify the information that is not available and the reason why it is not.
In the Foreign-Info keyword group, pertaining to federal form T1142 (Information Return Respect of Distributions from and Indebtedness to a Non-Resident Trust):
1. Trust-Info : Name of trust
  
  Use the keyword Trust-Info to provide the name of the non-resident trust.
2. Trustee.tr : Name(s) of the trustee(s) for the non-resident trust
  
  Use the keyword Trustee.tr to enter the name of the trustee for the non-resident trust.
3. Care-Of.tru : Person or organization to whom material is sent
  
  Use the keyword Care-Of.tru to enter the name of the person or organization to whom material is sent for the trustee.
4. Street.tru : Street of the trustee
  
  Use the keyword Street.tru to enter the street of the trustee for the non-resident trust.
5. City.tru : City of residence of the trustee
  
  Use the keyword City.tru to enter the city of residence of the trustee for the non-resident trust.
6. Province.tru : Province of trustee
  
  Use the keyword Province.tru to indicate the province of the mailing address of the trustee.
7. State.tru : State of trustee
  
  Use the keyword State.tru to indicate the state of the mailing address of the trustee.
8. PostCode.tru : Postal code of the trustee
  
  Use the keyword PostCode.tru to enter the postal code of the trustee for the non-resident trust. DT Max will not verify the format of the postal code as it varies depending on the country.
9. Country.tru : Country or residence of the trustee
  
  Use the keyword Country.tru to enter the country of residence of the trustee for the non-resident trust.
10. Phone-Num.tru : Phone number of trustee, executor or administrator
  
  Use the keyword Phone-Num.tru to enter the telephone number of the trustee, executor, or administrator.
11. Trust-Distr : Types of property received from non-resident trust
  
  Choose the type of property received from a non-resident trust at any time in the taxation year.
12. Amount.f : Amount of funds
  
  Use the keyword Amount.f to enter the amount of funds received from a non-resident trust.
13. ReceipType : Specify nature of property received
  
  Use the keyword ReceipType to indicate whether the funds or other property received from a non-resident trust is income or capital in nature.
14. DESCR-PROP : Description of other property
  
  Use the keyword DESCR-PROP to provide a description of property received from a non-resident trust, when the property received is not in the form of funds.
15. FMV-Prop : Fair market value of other property
  
  Use the keyword FMV-Prop to enter the fair market value of property received from a non-resident trust, when the property received is not in the form of funds.
16. Trust-Indebt : Principal amount of debt owed to non-resident trust
  
  Use the keyword Trust-Indebt to enter the principal amount of the debt owed to a non-resident trust.
17. Date.i : Date on which the debt was incurred
  
  Use the keyword Date.i to indicate when the debt to the non-resident trust was originally incurred.
18. Unpaid-Ye : amount unpaid at year end and type of payment due
  
  Use the keyword Unpaid-Ye to indicate the amount outstanding to the non-resident trust at year end and whether the amount due is principal or interests in nature.
19. Int-Rate : Interest rate (per annum) on the debt
  
  Use the keyword Int-Rate to enter the interest rate payable on the debt to the non-resident trust.
20. INT-PAID.T : Whether interest on the debt was paid during the year
  
  Use the keyword INT-PAID.T to indicate whether or not interest on the debt to the non-resident trust was actually paid during the year.

4. New options

For the main keyword Foreign-Info , pertaining to federal form T1134 (Information Return Relating to Controlled and Not-Controlled Foreign Affiliates) and federal form T1142 (Information Return in Respect of Distributions form and Indebtedness to a Non-Resident Trust):
Not controlled foreign affiliates - T1134
Controlled foreign affiliates - T1134
Distr./indebt. owed to a non res. trust - T1142
For the keyword Org-Structure , in the Foreign-Info keyword group, pertaining to federal form T1134:
Section 3A
Section 3B
Section 3D
For the keyword CAPITALSTOCK , in the Foreign-Info keyword group, pertaining to federal form T1134:
Foreign affil. shares - owned by reporting corp.
Foreign affil. shares - owned by related corp.
For the keyword INDEBTED , in the Foreign-Info keyword group, pertaining to federal form T1134:
Debt to reporting corporation
Debt to foreign affiliate
For the keyword FS-Item , in the Foreign-Info keyword group, pertaining to federal form T1134:
Total assets
Accounting net income before tax
Income tax paid or payable on income
For the keyword SURPLUS-ACCT , in the Foreign-Info keyword group, pertaining to federal form T1134:
Exempt surplus
Taxable surplus
Pre-acquisition surplus
Hybrid surplus
For the keyword Bus-Employ , in the Foreign-Info keyword group, pertaining to federal form T1134:
Less than 6
More than 5
For the keyword Rev-Source , in the Foreign-Info keyword group, pertaining to federal form T1134:
Interest from other foreign affiliates
Interest - other
Dividends from other foreign affiliates
Dividends - other
Royalties
Rental and leasing activities
Loans or lending activities
Insurance or reinsurance of risks
Factoring of trade accounts receivable
Disposition of investment property
For the keyword Inc-Incl-ABI , in the Foreign-Info keyword group, pertaining to federal form T1134:
ITA - paragraph 95(2)(a)(i)
ITA - paragraph 95(2)(a)(ii)
ITA - paragraph 95(2)(a)(iii)
ITA - paragraph 95(2)(a)(iv)
ITA - paragraph 95(2)(a)(v)
ITA - paragraph 95(2)(a)(vi)
ITA - paragraphs (a) & (b) of subsection 95(1)
ITA - paragraph 95(2)(l)
ITA - paragraphs 95(2)(a.1) through (a.4)
ITA - subsection 95(2.3)
ITA - subsection 95(2.4)
For the keyword Trust-Distr , in the Foreign-Info keyword group, pertaining to federal form T1142:
Funds received from a non-resident trust
Other property received from a non-resident trust
For the keyword ReceipType , in the Foreign-Info keyword group, pertaining to federal form T1142:
Income in nature
Capital in nature
For the keyword Unpaid-Ye , in the Foreign-Info keyword group, pertaining to federal form T1142:
Unpaid principal
Unpaid interest

June 17, 2015

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In this version...

DT Max T1

1. Version highlights

Implementation of announced tax changes

2015 Planner Standard Caveat

Capital gains deduction

Quebec Additional Subsidized Childcare Contribution

2. Notes

Deceased or bankrupt taxpayers

Printing prescribed forms for 2015 returns

3. New diagnostics

Notes and diagnostics

Error prevention reports

4. New keywords

5. New options

DT Max T3

1. Version highlights - Enhancements

Tax changes affecting the following forms

Federal Trust Income Tax Return

Schedule 5 - Spousal or Common-Law Partner Trust's Capital Gains Deduction in Year of Beneficiary's Death

New Tax Rules for Testamentary and Grandfathered Inter Vivos Trusts

2. Revised forms

3. Warning: verifying carryforward

4. Deleted keyword

5. New option

DT Max T5013

1. Version highlights

2. New forms and related keywords

3. New keywords

4. New options